HARTFORD — Scaling down the governor’s transportation initiative, slashing current spending levels and closing the state’s projected $936 million deficit are the keys to a new Republican budget proposal unveiled Monday.

The GOP proposal would not only end the state’s deficit, it would actually create a budget surplus of over a billion dollars within five years, House Minority Leader Themis Klarides and Senate Minority Leader Len Fasano said at a morning news conference.

“Business needs to tell us what we need to do to help them do their job better, instead of us, in an arrogant way deciding ‘we know what’s best for you,’” Klarides said. “If we do not have a long-term plan, taxes will go up.”

The plan would take aim at labor, instituting a three-year wage freeze, changes to health and pension benefits for state employees and requiring the General Assembly to approve all union contracts. Gov. Dannel P. Malloy’s 30-year, $100-billion transportation initiative would be scaled back to $70 billion.

By the 2020-2021 fiscal year, the GOP surplus would soar to more than a billion dollars.

More Information

Republican budget proposal to solve the $936 million deficit

Layoffs and attrition — $281 million

12-percent cuts in some agency budgets - $157.5 million

Cuts in municipal aid - $117.6 million

Modifications to debt service - $69.2 million

Three-year wage freeze for state employees - $63.6 million

Cuts to UConn and UConn Health Center - $25.5

End public financing for political campaigns - $11.7

With the General Assembly’s May 4 adjournment date looming next week, Speaker of the House Brenda Sharkey thanked the Republican leaders and called for further bipartisan talks.

“I’m glad the minority finally came through with their budget proposal, which contains some helpful ideas, many similar to what is contained in the Democrats’ plan,” Sharkey said in a statement. “Time is of the essence, if the Republicans are serious about leading, let’s sit down today, work it out, and get this done together.”

“While there are many similarities, there are also clearly several areas where we have questions and concerns,” Puglia said. “We look forward to having our respective staffs meet in the coming days to answer those questions and move the conversation forward."